- XRP Ledger onboards Meld Gold’s new stablecoins backed by Gold and Silver.
- Each stablecoin represents 1 gram of the respective precious metal, held by renowned custody providers.
- Meld Gold completed the first transaction involving tokenized gold yesterday.
XRP ledger welcomes a groundbreaking development as tokenization innovator Meld Gold launched its new stablecoins backed by Gold and Silver. The strategic partnership with Ripple, a leading U.S. fintech company, has paved the way for this significant development.
According to a statement from Meld Gold, each stablecoin will represent 1 gram of the respective precious metal, held by renowned custody providers MKS Pamp and Imperial Vaults. This move aims to bridge the gap between traditional finance and the digital asset world, offering investors a secure and transparent way to invest in precious metals.
Meld Gold also announced that the first transaction involving the tokenized gold was completed yesterday. The company plans to roll out these new assets throughout October, making them accessible to a wider range of investors.
By introducing these precious metal-backed stablecoins onto XRP Ledger, Meld Gold is tapping into the platform’s unique features and capabilities. Users can now leverage the decentralized exchange (DEX), automated market maker (AMM), payment systems, and the upcoming Ethereum Virtual Machine (EVM) sidechain and money market to capitalize on the potential of tokenized assets.
Ripple’s New Stablecoin On XRP Ledger
This partnership between Meld Gold and Ripple marks a significant step forward in the adoption of digital assets and the tokenization of traditional assets. It demonstrates the growing interest in using blockchain technology to revolutionize financial services.
Recently, Ripple Labs’ RLUSD stablecoin went live on the XRP ledger, marking a significant milestone for the blockchain firm. A stablecoin like RLUSD aims at enhancing the utility of XRP, making it a more attractive asset for both individuals and institutions. The Ripple stablecoin was released in the private beta phase on the XRP Ledger and Ethereum mainnet. RLUSD’s creation was one of the many efforts that Ripple is making to attract high-value, liquid assets into the XRP Ledger.